Markets
London - The FTSE 100 gains 31.23 points to 5,617.84 yesterday. AstraZeneca and Unilever advanced more than 2% while BSkyB jumped 4.9% after reporting strong quarterly profits. Standard Life rose 4.4% after reporting a 30% rise in first quarter revenue to £4.65bn, smashing estimates of around £3.8bn. Diageo finished 2.5% higher after French rival Pernod Ricard lifted its full year profit target and posted third quarter sales above forecasts. In contrast, BP Plc sank the most since December 2008 on concern the costs of containing the worsening spill in the Gulf of Mexico will escalate. This morning the index is 15.32 points higher at 5,633.16.

Posted: April 30th, 2010 under Asset Management.
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Markets
London - The FTSE 100 slipped 16.91 points to 5,586.61 yesterday after S&P cut Spain’s credit rating to AA from AA+. Banks weighed on the index with Barclays, RBS and Lloyds all off between 1.5% and 1.9%. On the upside, Royal Dutch Shell rose to an almost two year high after posting a 57% increase in first quarter profit. This morning the index is currently 2.12 points higher at 5,588.73.

Posted: April 29th, 2010 under Asset Management.
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Markets
London - The FTSE 100 tumbled 150.33 points to 5,603.52 yesterday. Banks were the biggest drag as the sovereign debt crisis worries intensified. This took the shine off Lloyds Banking Group’s first quarter trading update, in which it had returned to profit as bad debts fell. Oil majors were weak overall as the crude price dropped 2.5 percent, dampening first-quarter results from BP, which saw a 135 percent jump in net profit. BP shares fell 2.7 percent with the sharp rise in profits also overshadowed by fears about the impact of a worsening oil spill in the Gulf of Mexico. Elsewhere, Reckitt Benckiser shed 4.3 percent as the consumer products firm posted a 15 percent rise in first-quarter net profit and stuck to its 2010 targets. Analysts believed the drop was due to investors becoming accustomed to RB over-delivering and raising guidance. This morning the blue chip index is 26.75 points lower at 5,576.77.

Posted: April 28th, 2010 under Asset Management.
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Markets
London - The FTSE rose 30.20 points to 5,753.85 yesterday. Heavily weighted mining shares boosted the index as metal prices rose. Invensys jumped 4.3% following strong results from rival Whirlpool. Outside of the FTSE 100, Weir Group jumped 8.7% after increasing its full-year profit forecast, saying it performed better than expected in its first quarter. Chloride Group, Britain’s largest maker of backup power equipment, jumped 42% after rejecting a £723 million takeover approach from Emerson Electric. This morning the index is 35.52 points lower at 5,718.33.

Posted: April 27th, 2010 under Asset Management.
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Markets
London - UK stocks closed higher on Friday snapping a two day losing streak as a request by Greece to activate an aid package eased concerns over its debt crisis and US home sales rose sharply in March. Equities were strong, even as the economy grew at a slower pace than expected in the first three months of the year. The FTSE 100 closed 58.32 points higher at 5723.65, after hitting a one month closing low on Thursday. Banks were among the top gainers, with HSBC, Barclays, RBS, and Lloyds Banking Group up 0.7 to 3.6 percent. An upbeat note from Barclays Capital also lifted RBS.

Posted: April 26th, 2010 under Asset Management.
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